(AOF) – Standard Chartered has announced the transfer of Philippe Dauba-Pantanacce, one of its senior economists, to its Paris office. Until then based in London, Philippe Dauba-Pantanacce leads economic research on global geopolitics within the Research department of Standard Chartered. He will be the first member of the Global Research team to be based in continental Europe. The British bank “thus demonstrates the strengthening of its commitment on the continent”.
Standard Chartered established its headquarters for continental Europe in Frankfurt. The bank has had offices in Sweden and France since 2008. The Paris branch serves French and Southern European clients.
Philippe Dauba-Pantanacce has been with Standard Chartered for over 15 years. He started in Dubai as an economist covering the Middle East and Turkey, before joining the Bank’s headquarters in London. He holds a bachelor’s and a master’s degree from Paris Dauphine University, a master’s degree from Sciences-Po Paris and a master’s degree from Columbia University in New York.
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The negative effects of rising interest rates
The rise in interest rates normally causes an increase in bank income through the loans granted. In Europe, according to a survey conducted by S&P among 85 banking establishments, the sector expects an average increase of 18% in its net interest income. However, this new inflationary context also has undesirable effects, in particular an increase in refinancing costs. It is also accompanied by the fear of a new recession, which would then affect all the bank’s businesses, ranging from loans to asset management, whose income is correlated to market valuations. Reassuring element: the banks of the euro zone are sufficiently solid to face a deterioration of their environment.